GalaxyLithium is central to the evolution of the technology market. It is used in high-efficiency and high-capacity batteries for electric vehicles, smartphones, laptops, and a range of devices. Lithium companies are ideal for alternative investors looking for bargains. Galaxy Resources Ltd. (OTC: GALXF) is an Australian mining company that produces lithium concentrate and explores for mineral properties. It has projects in Australia, Argentina, and Canada.

Galaxy Resources is an OTC stock in the United States but is listed on the Australian Stock Exchange (ASX), so recent financial data is available. In the fourth quarter, the company reported that it was debt-free with cash and assets of $105 million (USD). It is investing heavily in new projects and methods to reduce operating costs. Capital expenditure from the third quarter was reported at $4.6 million (USD).

The company shipped 16,753 dry metric tonnes of spodumene (a base product from which lithium is extracted) in the third quarter and had a further 61,953 dry metric tonnes ready to ship. According to the company’s data, the lithium market has bottomed in price and growth is now likely. This will help to drive revenue in the coming years.

Long-term, this company has the infrastructure to grow as the demand for lithium increases. The stock is a relative bargain today and is worth a cautious look for investors who will buy and hold. Recent advances in the stock suggest that those investors looking for short-term returns should wait for the price to cool first.

Key Data:

  • 1 Year Price Growth: 13%
  • YTD Price Growth: 25%
  • 3 Month Price Growth: 55%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.